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Banyan Street and Oaktree Acquire Atlanta Plaza

Atlanta, GA (September 19, 2016) – CBRE today announced
that Banyan Street Capital and funds managed by Oaktree Capital Management,
L.P. (“Oaktree”) have acquired Atlanta Plaza in a joint venture deal. Atlanta
Plaza is a prominent Class A office tower located within the Southeast’s
strongest and most desirable submarket of Buckhead.

The 631,808-sq.-ft. office tower recently
underwent $7.5 million of upgrades and renovations, which led to nearly 200,000
square feet of leasing activity over the past two years. Major tenants include
the regional hub for Salesforce.com, Rubicon Global, and the corporate
headquarters for RentPath. Banyan Street and Oaktree are planning an additional
$6 million in common area improvements to the main lobby, tenant elevator
landings and corridors, elevator cabs, retail concourse and building signage.

“Buckhead continues to draw big-name tenants and
remains the most exclusive office market in metro Atlanta,” said Nicole Goldsmith of CBRE. “The area has attracted many creative firms and provides a
steady stream of tech talent to flock to creative and collaborative space like
Atlanta Plaza has to offer. Additionally, Atlanta Plaza offers the
accessibility that the existing creative and tech ecosystem craves, as it is sits
directly on the MARTA line and interstate system, provides direct access to the
Lenox Mall and offers walkable and bikable access to a diverse range of
restaurants and other area amenities.”

Looking ahead, Atlanta Plaza will also benefit
from nearly 1,000 new urban, upscale residential units, an ALOFT hotel and a
six-acre park connecting it to Buckhead’s PATH 400.

“The property is one that would draw almost any
investor, as it is unmatched in the Southeast,” said Chris Port of CBRE. “The
combination of newly renovated space, energy, momentum and modern day
attractive amenities such as green space are the ingredients that attract
talent to a work environment that serves as more than a desk, but as an
experience.”

”We have a rare opportunity to revitalize a
landmark office tower and we couldn’t be more thrilled,” said Zac Gruber,
Managing Director of Banyan Street Capital.
“We intend to invest thoughtfully in renovations to the property targeting
the central common areas and amenities in order to elevate the experience of
working at Atlanta Plaza.”